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Indian cryptocurrency exchange WazirX was given an ultimatum to withdraw incorrect assertions about Binance ownership or lose access to its wallets.

Binance has announced that Indian crypto exchange Wazirx can no longer use Binance wallet services. Zanmai, the operator of Wazirx, has until Feb. 3 “to remove the funds from the accounts that they used for Wazirx's operations.” The move followed a public dispute regarding the relationship between Binance and Wazirx.

After months of conflict, Binance has cut ties with WazirX, canceling its wallet service to the Indian crypto exchange.

Binance has requested that the WazirX Exchange remove whatever cash it holds in its wallet after announcing the suspension of its wallet services for the WazirX Exchange.

Crypto exchange Binance asked WazirX operator Zanmai Labs to withdraw the funds on its Binance wallets because it was terminating its services to the firm, according to a February 3 statement.

Binance has stopped its wallet services for WazirX following a public argument over who has ownership of the Indian exchange.

War of words between Binance and WazirX steps up a gear as the former orders the latter to withdraw its clients' funds.

Key Points: Users of the WazirX exchange, which is operated by Zanmai Labs, are no longer able to make use of the Binance wallet services after it was revealed on February 3 that the platform has terminated its provision of wallets and other associated technical services to the company.

According to the announcement, WazirX has until the end of the day UTC on Feb. 3 to withdraw all remaining funds it stores in Binance wallets.

The dreadful days for the Indian crypto community have not vested following the ignorance of digital assets in the recent announcement of Budget 2023. The power cash between the two titans began a few months before, which now appears to have reached its destiny of closure. Binance, the top crypto exchange has asked told.

Binance has stopped providing wallet services to WazirX, asking the Indian crypto exchange to withdraw any remaining assets held in Binance wallets. 

The company told Zanmai to withdraw all funds and assets in Binance wallets used for WazirX operations on February 3, 2023, no later than 11:59 PM UTC.An official blog post explained that the ultimatum was issued as Zanmai refused to clarify or retract misleading statements about its relationship with Binance.CZ's company previously shuttered its off-chain fund transfer channel with the Indian crypto exchange back in August 2022.  Zanmai Labs, the company behind Indian crypto trading venue WazirX, has until 11:59 PM UTC on February 3, 2023, to withdraw all assets in Binance accounts used for WazirX operations, an official blog post released on Friday said.

The saga between Binance and the Indian crypto exchange takes another turn.

The solution ostensibly ends worries about what would happen to customer funds if Binance and WazirX end their collaboration.

Data gathered from the Utradea social media financial sentiment API shows that the ticker ECOIN has gathered the most positive attention on Twitter over the last 24 hours.

With CZ's recent tweet, the debate over Binance's ownership of WazirX took another sharp turn. On 5th august last year, CZ tweeted that “Binance does not own any equity in Zanmai Labs, the entity operating WazirX.

The back-and-forth about the ownership of WazirX could have a devastating effect on the Indian exchange and its users.

Key Points: WazirX, an Indian cryptocurrency exchange, has issued its Proof-of-Reverse report, which includes the very shocking information that 90% of customer assets are kept in Binance wallets. The exchange has a total cash worth of $285 million, according to CoinGabbar, a crypto asset tracking platform and WazirX PoR publisher.

Indian crypto exchange WazirX released its proof of reserves report that disclosed 90% of its user assets are held in Binance wallets. "The Hash" panel discusses the Twitter drama between WazirX and Binance CEO Changpeng "CZ" Zhao.

Indian cryptocurrency exchange WazirX has released its proof of reserves and with that revealed that 90% of its user's assets are stored in Binance wallets. Cryptocurrency exchange WazirX has released its proof of reserves and says that it is India's largest exchange in terms of both volume and reserve funds.

90% of user funds of WazirX are in Binance wallets, according to the recently published proof-of-reserve report.

Indian-based crypto exchange WazirX has published its Proof-of-Reserves (PoR) report, which shows it holds about $285 million worth of crypto assets. The post WazirX publishes proof of reserves of assets worth $285M appeared first on CryptoSlate.

WazirX revealed in its proof of reserves report that 90% of its user assets are in Binance wallets.

WazirX, India's largest crypto exchange, has published its proof of reserves (POR), making public its wallet addresses, exchanges and POR report.